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Nonprofiteer
← IMPACT DEVELOPMENT FUND

Form 990 for tax year 2025

Filed by IMPACT DEVELOPMENT FUND.

Totals

Total revenue
$46,471,972
Total expenses
$14,991,383
Contributions and grants received
$33,193,061
Grants paid
$900,000
Program service revenue
$10,867,624
Investment income
$2,411,287
Other revenue
$0
Total assets, end of year
$194,003,825
Total liabilities, end of year
$114,966,127
Net assets or fund balances, end of year
$79,037,698
Program services expenses (Part IX)
$13,639,978
Management and general expenses
$1,118,622
Fundraising expenses
$232,783
Program service expenses (Part III)
$13,639,978

Program services were 91.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $32,180,316

  • 1f · All other contributions, gifts and grants

    $1,012,745

  • 2a · Program service revenue: LOAN FEES/SERVICING IN

    total $4,417,486 · related or exempt $4,417,486

  • 2b · Program service revenue: LOAN INTEREST INCOME

    total $3,940,112 · related or exempt $3,940,112

  • 2c · Program service revenue: HOME SALES REVENUE

    total $2,098,799 · related or exempt $2,098,799

  • 2d · Program service revenue: CONTRACT REVENUE

    total $411,190 · related or exempt $411,190

  • 2e · Program service revenue: LOAN RECOVERY INCOME

    total $37 · related or exempt $37

  • 3 · Investment income

    total $2,411,287 · excluded $2,411,287

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $900,000 · program services $900,000

  • 5 · Compensation of officers, directors and key employees

    total $902,918 · program services $348,091 · management and general $509,681 · fundraising $45,146

  • 6 · Compensation of disqualified persons

    total $3,538,911 · program services $3,181,233 · management and general $242,043 · fundraising $115,635

  • 7 · Other salaries and wages

    total $95,517 · program services $85,728 · management and general $6,663 · fundraising $3,126

  • 9 · Other employee benefits

    total $374,248 · program services $314,223 · management and general $47,115 · fundraising $12,910

  • 10 · Payroll taxes

    total $408,852 · program services $327,081 · management and general $67,052 · fundraising $14,719

  • 11b · Fees: legal

    total $569 · program services $569

  • 11c · Fees: accounting

    total $52,163 · management and general $52,163

  • 11g · Fees: other

    total $6,000 · management and general $6,000

  • 12 · Advertising and promotion

    total $7,790 · program services $7,790

  • 13 · Office expenses

    total $195,307 · program services $149,481 · management and general $37,577 · fundraising $8,249

  • 14 · Information technology

    total $116,969 · program services $93,575 · management and general $19,183 · fundraising $4,211

  • 16 · Occupancy

    total $316,139 · program services $237,104 · management and general $64,809 · fundraising $14,226

  • 17 · Travel

    total $25,358 · program services $19,019 · management and general $5,198 · fundraising $1,141

  • 19 · Conferences, conventions and meetings

    total $32,311 · program services $24,233 · management and general $6,624 · fundraising $1,454

  • 20 · Interest

    total $2,508,973 · program services $2,508,973

  • 23 · Insurance

    total $115,920 · program services $86,940 · management and general $23,764 · fundraising $5,216

  • 24a · Other expenses: PROVISIONS FOR LOAN LOS

    total $2,492,235 · program services $2,492,235

  • 24b · Other expenses: COST OF HOMES SOLD

    total $1,807,653 · program services $1,807,653

  • 24c · Other expenses: CMF AND ERP ADMIN

    total $890,924 · program services $890,924

  • 24d · Other expenses: BAD DEBT

    total $52,626 · program services $52,626

  • 24e · All other expenses

    total $150,000 · program services $112,500 · management and general $30,750 · fundraising $6,750

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $15,360,261 · end of year $22,651,993

  • 2 · Savings and temporary cash investments

    beginning of year $45,700,427 · end of year $56,698,974

  • 4 · Accounts receivable

    beginning of year $8,471,730 · end of year $1,332,421

  • 7 · Other notes and loans receivable

    beginning of year $78,846,500 · end of year $107,512,960

  • 9 · Prepaid expenses and deferred charges

    beginning of year $199,899 · end of year $161,979

  • 10a · Land, buildings and equipment: cost or other basis

    $3,996,483

  • 10c · Land, buildings and equipment, net

    beginning of year $3,767,787 · end of year $3,996,483

  • 15 · Other assets

    beginning of year $131,800 · end of year $1,649,015

  • 17 · Accounts payable and accrued expenses

    beginning of year $851,467 · end of year $1,913,365

  • 19 · Deferred revenue

    beginning of year $2,593,249 · end of year $1,035,934

  • 21 · Escrow or custodial account liability

    beginning of year $25,181,155 · end of year $11,348,834

  • 24 · Unsecured notes and loans payable

    beginning of year $47,401,520 · end of year $69,132,015

  • 25 · Other liabilities

    beginning of year $28,893,904 · end of year $31,535,979

  • 27 · Net assets without donor restrictions

    beginning of year $47,557,109 · end of year $79,037,698

Mission and programs · 2025

Mission

IMPACT DEVELOPMENT FUND CREATES ECONOMIC OPPORTUNITY BY DELIVERING FLEXIBLE CAPITAL TO STRENGTHEN UNDER-SERVED COMMUNITIES.

Activities or mission (Part I)

PROVIDES LOANS FOR AFFORDABLE HOUSING AND NONPROFIT FACILITIES.

  • IMPACT DEVELOPMENT FUND PROVIDES EARLY STAGE, SHORT-TERM LOANS TO AFFORDABLE HOUSING, NON-PROFIT COMMUNITY FACILITIES, AND NEIGHBORHOOD REVITALIZATION PROJECT DEVELOPERS THROUGHOUT AN EXPANDING REGION.

    Expenses $10,828,523 · Grants $900,000 · Revenue $8,357,635

  • IMPACT DEVELOPMENT FUND PROVIDES TECHNICAL ASSISTANCE TO NON-PROFIT AFFORDABLE HOUSING AND COMMUNITY SERVICE ORGANIZATIONS PLANNING TO RENOVATE, ACQUIRE, BUILD AND/OR EXPAND REAL ESTATE. THE TECHNICAL ASSISTANCE IS PROVIDED THROUGH WORKSHOPS AND ONE-ON-ONE CONSULTATION.

    Expenses $1,003,802 · Revenue $411,190

  • IN MAY 2021, THE FUND ESTABLISHED IMPACT DEVELOPMENT BUILDERS, LLC ("IDB") AS A COLORADO LIMITED LIABILITY COMPANY. THE PURPOSE OF IDB IS TO PROVIDE, ON A FEE OR OTHER BASIS, CONSTRUCTION, REPAIR, MAINTENANCE, AND SIMILAR CONSTRUCTION SERVICES TO CLIENTS AND NON-PROFIT PARTNERS IN THE AFFORDABLE HOUSING COMMUNITY, INCLUDING AQUIRING AND REHABILITATION OF DISTRESSED HOUSING UNITS AND CONSTRUCTION OF NEW DEVELOPMENT FOR SALE TO LOW AND MODERATE INCOME RESIDENTS.

    Expenses $1,807,653 · Revenue $2,098,799

As filed on the 2025 return.

Listed in Part VII

  • BECKY CHRISTOFFERSEN

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • JAVONNI BUTLER

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • RANDY ILICH

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • MICAH HALVERSON

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • MARK OCONNOR

    PAST PRESIDENT

    Total calculated
    $0
    Hours/week
    3

  • KRISTI BUDISH

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • KRISTIN CANDELLA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • RENEE GALLEGOS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • DAN KUSEL

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • ANNIE PERIZZOLO

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • BRIAN ROSSBERT

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • MARY STEGNER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • MEGAN FERGUSON

    CEO

    Total calculated
    $321,814
    From this org
    $294,987
    From related orgs
    $0
    Other
    $26,827
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $252,987
    Bonus
    $42,000
    Other
    $0
    Deferred
    $7,598
    Nontaxable benefits
    $19,229
    Filer's total
    $321,814

  • MARCIA MYERS

    CHIEF FINANCIAL OFFICER

    Total calculated
    $198,111
    From this org
    $189,458
    From related orgs
    $0
    Other
    $8,653
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $179,258
    Bonus
    $10,200
    Other
    $0
    Deferred
    $5,384
    Nontaxable benefits
    $3,269
    Filer's total
    $198,111

  • ERICA MADISON

    CHIEF LENDING OFFICER (THRU 11/21/25)

    Total calculated
    $223,091
    From this org
    $200,297
    From related orgs
    $0
    Other
    $22,794
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $174,047
    Bonus
    $26,250
    Other
    $0
    Deferred
    $5,219
    Nontaxable benefits
    $17,575
    Filer's total
    $223,091

  • RACHEL TWEEDY

    CHIEF OPERATING OFFICER

    Total calculated
    $166,378
    From this org
    $155,674
    From related orgs
    $0
    Other
    $10,704
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $135,986
    Bonus
    $19,688
    Other
    $0
    Deferred
    $4,080
    Nontaxable benefits
    $6,624
    Filer's total
    $166,378

  • CONNIE EALEY

    CHIEF ADMINISTRATIVE OFFICER

    Total calculated
    $188,214
    From this org
    $180,355
    From related orgs
    $0
    Other
    $7,859
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $157,105
    Bonus
    $23,250
    Other
    $0
    Deferred
    $4,713
    Nontaxable benefits
    $3,146
    Filer's total
    $188,214

  • JUSTIN HILL

    DIRECTOR OF CLEAN ENERGY LENDING

    Total calculated
    $177,989
    From this org
    $172,687
    From related orgs
    $0
    Other
    $5,302
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $154,687
    Bonus
    $18,000
    Other
    $0
    Deferred
    $4,641
    Nontaxable benefits
    $661
    Filer's total
    $177,989

  • AARON FERGUSON

    CHIEF CONSTRUCTION OFFICER

    Total calculated
    $177,820
    From this org
    $163,843
    From related orgs
    $0
    Other
    $13,977
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $142,843
    Bonus
    $21,000
    Other
    $0
    Deferred
    $4,293
    Nontaxable benefits
    $9,684
    Filer's total
    $177,820

  • KATHERINE PALMER

    CHIEF POLICY & PERFORMANCE OFFICER

    Total calculated
    $160,367
    From this org
    $144,789
    From related orgs
    $0
    Other
    $15,578
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $134,189
    Bonus
    $10,600
    Other
    $0
    Deferred
    $4,026
    Nontaxable benefits
    $11,552
    Filer's total
    $160,367

  • ROHANA PARKS

    CHIEF PEOPLE OFFICER

    Total calculated
    $128,411
    From this org
    $127,641
    From related orgs
    $0
    Other
    $770
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 7
THE ORGANIZATION PROVIDES A DISCRETIONARY BONUS TO MANAGEMENT UP TO A CAP BASED ON NET INCOME.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • IMPACT DEVELOPMENT BUILDERS LLC

    DEVELOP & SELL REAL PROPERTY, CONSTRUCTION SERVICES, REPAIR, MAINT. · CO · income $2,098,799 · assets $3,996,483

    Directly controlled by IMPACT DEVELOPMENT FUND

  • IDB - 1331 E 4TH STREET LOVELAND LLC

    DEVELOP REAL PROPERTY AND SELL SUCH PROPERTY · CO · income $0 · assets $0

    Directly controlled by IMPACT DEVELOPMENT BUILDERS LLC

Provenance

Return type
form_990
Tax year
2025
IRS schema version
2025v4.2
Source object
202622479349300512

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